India's Nykaa falls 7% after September-quarter profit slumps
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
BENGALURU - Shares of Indian cosmetics-to-fashion platform Nykaa fell as much as 7.4% on Monday after it reported a 96% slump in quarterly net profit, hurt by higher marketing and advertisement expenses.
Falguni Nayar-led FSN E-Commerce Ventures Ltd, popularly known by the brand name Nykaa, late on Sunday reported a consolidated net profit of 11.7 million rupees ($157,306.69) for the September quarter, compared with 274.7 million rupees a year earlier.
In its first earnings report following a blockbuster market debut last week, Nykaa's quarterly revenue from operations rose 46.6% to 8.85 billion rupees.
